I have a long position on State Bank of India futures bought for ₹1,068. What is the outlook for the stock? Should I hold or exit the trade? – Pradeep Kabra, Mumbai State Bank of India (₹1,000.50): After failing to breach the barrier at ₹1,120 in early August, the stock started to fall. It depreciated for four weeks straight and is down 1.5 per cent so far this week.Importantly, the stock has now slipped below the support at ₹1,015. Although ₹1,000 can offer support, a rise, if any, will most likely be capped at ₹1,030, a resistance.An eventual decline below ₹1,000 can drag the underlying stock price to ₹950 in the short run.The above factors indicate that the September futures of State Bank of India, which is now trading at ₹1,005, is likely to see a decline to ₹950-960 price band. In case there is an uptick from the current level, it might move to ₹1,035. However, a rally beyond this is unlikely and the contract can resume the downtrend.Therefore, we suggest exiting the trade at the current level. Alternatively, since the stock and the futures is now hovering near a potential support, you may hold the futures long but with a strict stop-loss at ₹990. Exit the trade once the contract rallies to ₹1,030. So, overall, given the current chart set up, you can possibly cut the losses but turning this trade profitable is less probable.Send your queries to derivatives@thehindu.co.inPublished on September 10, 2026